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Response to Shared Equity

from pendle (pendle@amun-ra.demon.co.uk)
My question would be why the council are chasing you for this 30%. If the House ownership was on a 70-30 share between the building society and the builder, you borrowed money from the building society therefore your debt is with the building society.

I would strongly suggest that you see a solicitor about this, preferably one who has had experience buying and selling percentage shares. Show him/her your paperwork and see where you really stand.

You are correct in that no one can touch your current partners property or his assets. And he is certainly under no obligation to divulge information on his income/outgoings, as far as this debt is concerned, it is nothing to do with him, this is between you, your ex- husband and the creditors.

A public examination is in fact an oral examination. This can only take place after a judgement has been made against you and there is a long long way to go until that happens. An oral examination is only asked for by a lender when they are unsure of the debtor's income, assets and outgoings. All that will happen at this examination is that a court officer will take all the details on a special form (usually provided by the lender) and you will need documentation to back up your outgoings The lender gets the results and then it shows them how much you can or cannot afford and decide then on how they will chase you for the debt (eg attachment of earnings, charging order or garnishee order.)

(posted 8747 days ago)

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